Bitcoin and Ethereum Chart Analysis - Bitcoin above 50,000 USD!

Bitcoin Chart Analysis

Bitcoin and Ethereum Chart Analysis - Bitcoin above 50,000 USD!Bitcoin and Ethereum Chart Analysis - Bitcoin above 50,000 USD!Source: Tradingview*

Bitcoin has managed to crack the important 50,000 USD mark overnight! Currently, we are holding solidly above it at around 50,300 USD. Yesterday saw another small sell-off into the 48,000 USD area.

The trading volume is currently decreasing from day to day. The price jumps are getting shorter. The market is now slowly becoming cautious. We have seen a pump from 30,000 – 50,500 USD within a very short period of time.

Bitcoin Outlook

Bitcoin and Ethereum Chart Analysis - Bitcoin above 50,000 USD!Bitcoin and Ethereum Chart Analysis - Bitcoin above 50,000 USD!Source: Tradingview*

Let’s now take the Fib. Retracement-Level and draw it from the ATH at approx. 64,000 USD to the lowest point of our correction at approx. 28,500 USD, we can see that the Golden-Pocket (0.618 – 0.65 Fib. Retracement-Level) is now exactly above us at approx. 51,200 – 52,000 USD.

Furthermore, there continues to be strong resistance in this zone. We have a bearish divergence on the daily chart. However, should we make it above the golden pocket without any problems, prices of USD 55,000 – 57,000 are possible.

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